Posted on: 07th Nov, 2005 06:21 pm
Can you please suggest me how to get my property title into my living trust? I have started getting my paper together. I was told by one of my friends that it gets recorded with someone.
Kate,
I've already explained this at http://www.mortgagefit.com/ladybirddeed-revocabletrust.html . Please refer to it and in case you have any doubts, do ask me.
I've already explained this at http://www.mortgagefit.com/ladybirddeed-revocabletrust.html . Please refer to it and in case you have any doubts, do ask me.
I read your response to Jerry ----but with a small bank account, my home is clear of debt and with no stocks and no outside property am I still required to set up funding for the trust ?
Thanks
Thanks
Hi Seabeevet,
Funding the trust simply means transferring your assets to the trust and it depends on your reasons for having it.
If it is for managing your assets for your beneficiaries after your death, then you may not do it. Only a will is sufficient but the trust will help you to avoid probate.
Funding the trust simply means transferring your assets to the trust and it depends on your reasons for having it.
If it is for managing your assets for your beneficiaries after your death, then you may not do it. Only a will is sufficient but the trust will help you to avoid probate.
If a client wants to transfer property into a Living Trust, how would they do that? Does the property have to be paid off? If not, does that property become paid in full? What is the most simple way to transfer their property into their Living Trust?
Hi K,
Property can be transferred into a living trust using a quitclaim deed. Quitclaim does not guarantee whether or not a property has a lien on it. Thus to transfer through a quit claim deed, the property doesn't have to be paid off and once the property has been transferred, it doesn't become paid in full unless of course you pay it off.
Property can be transferred into a living trust using a quitclaim deed. Quitclaim does not guarantee whether or not a property has a lien on it. Thus to transfer through a quit claim deed, the property doesn't have to be paid off and once the property has been transferred, it doesn't become paid in full unless of course you pay it off.
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